With its recent settlement against a futures commission merchant, Phillip Capital, the U.S. Commodity Futures Trading Commission (CFTC) has demonstrated that it will act after a cyber incident – adding another layer to the collateral consequences of a breach. In a guest article, Jason Elmer, managing partner at Drawbridge Partners, analyzes the enforcement action and its compliance implications. See “Financial Firms Must Supervise Their IT Providers to Avoid CFTC Enforcement Action” (Feb. 28, 2018).
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